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Shares tank at both companies following bid for TV Guide giant
Macrovision, a provider of digital protection technology, is set to acquire television program guide provider Gemstar-TV Guide in a cash and stock deal valued at around $2.8 billion.
Twenty-five-year old Macrovision, based in Santa Clara, Calif., is best known for content protection and security technology for the motion picture industry, home entertainment distribution and online.
Combining with Gemstar-TV Guide's content guidance services will allow the company to offer commercial and personal libraries of protected content to be accessible across platforms through interactive guides.
The acquisitive company has recently scooped up technology firms and assets to complement its portfolio of products, including All Media Guide, Mediabolic and Blu-ray disc security technology from Cryptography Research.
Seven-year-old Gemstar-TV Guide, a provider of interactive programming guides and publisher of TV Guide magazine, weathered major lawsuits in recent years during an inflated revenue scandal that led to...